The first month of 2022 saw €16,3M worth of loans originated on Estateguru’s platform with Estonia and Germany together contributing over half the total amount of funding.
Due to seasonality, repayments were modest at €2,5M, accounting for 23 loans with an average return of 10,4%. We didn’t see significant changes in late, defaulted, and/or prolonged loans which could have affected repayments negatively.
During the last month we fully recovered two loans in Estonia (€0,6M). We moved two loans in Latvia (repayment of €0,2M) to partially recovered statuses and defaulted the last loans and stages of one Finnish borrower. Consequently, the default rate increased to 7,1%. We are in the final stages of selling several collaterals and claims and haven’t changed our forecast of a substantial decrease in defaults during the first quarter of 2022.